If I'm understanding you correctly, each income component is classified into it's own bucket and taxed as such.

Its kind of like learning to fly on the SR 71  not even a 747  and doing mach 2.5 on your first deal  :)  you may want to get some experience in your bucket before launching into this. for many reasons..

How much of the closing cost bucket are third party title company fees?

That's a drop in a bucket for what you will save and make investing correctly.Schedule as many meetings with local investors and other professionals as possible and go during the time where you can attend a REIA and start putting a potential team together.

I was watching a segment on the travel market and they were saying that most folks planning travel for next year are looking for bucket list-type vacations.

. $1,000 bucks sounds like a drop in the bucket to me, considering that other strategies would require parting with a lot more capital, with greater risk.

Is something like performing note investing right in this bucket? 

Build a reserve bucket (if you haven't).If you have... then go for 1 or 2 more rentals.

Bucket 1 1/3 $ goes to spending Bucket 2 1/3 goes to savingBucket 3 1/3 goes to investing For example she bought 2 shares of Facebook @ $18 which now worth $440.

So it is in a lower price bucket now than it was.